Silverleafe Capital Partners LLC Increases Stock Holdings in Arcutis Biotherapeutics, Inc. $ARQT

Key Points

• Silverleafe Capital Partners raised its stake in Arcutis by 278.8% in Q4 to 62,994 shares (about $1.83M), making ARQT its 29th-largest holding and ~0.5% of the firm's portfolio.
• Insiders have been net sellers, offloading 163,733 shares worth $4.2M in the past three months (including sales by Patrick Burnett and director Howard G. Welgus), leaving insiders with 9.40% ownership.
• Arcutis beat recent quarterly expectations (Q: $0.13 EPS vs $0.03 expected; revenue $129.5M vs $110.8M), and analysts show a consensus "Moderate Buy" with a $34 average target after several firms raised price targets to $34–$36.

Silverleafe Capital Partners LLC increased its position in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT - Free Report) by 278.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,994 shares of the company's stock after acquiring an additional 46,366 shares during the quarter. Arcutis Biotherapeutics comprises about 0.5% of Silverleafe Capital Partners LLC's holdings, making the stock its 29th biggest holding. Silverleafe Capital Partners LLC owned 0.05% of Arcutis Biotherapeutics worth $1,829,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in Arcutis Biotherapeutics by 10.3% in the 3rd quarter. Jennison Associates LLC now owns 12,254,119 shares of the company's stock worth $230,990,000 after purchasing an additional 1,144,714 shares in the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Arcutis Biotherapeutics by 12.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,874,511 shares of the company's stock valued at $138,441,000 after purchasing an additional 1,089,227 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Arcutis Biotherapeutics by 1.4% in the third quarter. Vanguard Group Inc. now owns 7,146,090 shares of the company's stock worth $134,704,000 after purchasing an additional 96,991 shares during the period. Polar Capital Holdings Plc increased its holdings in shares of Arcutis Biotherapeutics by 5.8% in the third quarter. Polar Capital Holdings Plc now owns 5,298,754 shares of the company's stock worth $99,882,000 after purchasing an additional 292,279 shares during the period. Finally, State Street Corp raised its position in shares of Arcutis Biotherapeutics by 1.2% in the second quarter. State Street Corp now owns 4,526,937 shares of the company's stock worth $63,468,000 after buying an additional 52,734 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ARQT shares. HC Wainwright lifted their price objective on Arcutis Biotherapeutics from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wall Street Zen cut Arcutis Biotherapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Guggenheim lifted their price target on Arcutis Biotherapeutics from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Needham & Company LLC boosted their price objective on Arcutis Biotherapeutics from $31.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Zacks Research cut shares of Arcutis Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Insider Transactions at Arcutis Biotherapeutics

In other news, insider Patrick Burnett sold 9,794 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $25.81, for a total transaction of $252,783.14. Following the transaction, the insider directly owned 80,651 shares in the company, valued at approximately $2,081,602.31. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.05, for a total value of $250,500.00. Following the transaction, the director directly owned 59,744 shares in the company, valued at approximately $1,496,587.20. This represents a 14.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 163,733 shares of company stock worth $4,204,675. Company insiders own 9.40% of the company's stock.

Arcutis Biotherapeutics Stock Performance

NASDAQ ARQT opened at $22.74 on Thursday. Arcutis Biotherapeutics, Inc. has a 52-week low of $11.86 and a 52-week high of $31.77. The company has a fifty day moving average of $25.29 and a 200-day moving average of $24.79. The company has a market capitalization of $2.82 billion, a P/E ratio of -162.42 and a beta of 1.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.99 and a current ratio of 3.17.

Arcutis Biotherapeutics (NASDAQ:ARQT - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. Arcutis Biotherapeutics had a negative return on equity of 10.26% and a negative net margin of 4.29%.The business had revenue of $129.50 million for the quarter, compared to analysts' expectations of $110.79 million. As a group, equities research analysts predict that Arcutis Biotherapeutics, Inc. will post -1.33 EPS for the current fiscal year.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company's research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.

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